Toy store winds down
January 29, 2004
The Clovis location of KB Toys is among 375 stores determined to be “underperforming” or that do not fit strategic plans and are slated for closure, according to a Wednesday press release from the company.
A woman who identified herself as a manager said Wednesday evening that local employees were aware of the corporate decision but are required to refer all inquiries to corporate headquarters.
Corporate officials could not be immediately reached for comment at their Massachusetts headquarters.
The company press release indicated that the Clovis store is one of only two in New Mexico to be slated for closure; the other is in Santa Fe.
An additional 750 will remain open.
The company’s Web site lists five other stores in New Mexico: two in Albuquerque and one each in Gallup, Farmington, and Las Cruces. Across the state border, stores in Lubbock and Amarillo are also expected to remain open.
The closures are part of a Chapter 11 bankruptcy process. According to the press release, KB Toys will reduce its employment level by about 3,500 positions from the current level of about 12,000 positions.